Thames River Capital will be launching two investment grade credit funds on October 1, 2009 targeting the US institutional market, according to sales director Edward Morse.

The independent fund house, which manages $11.5 billion in alternative products, said the two funds would have a global remit although the main focus is expected to be on Europe.

In June Thames River Capital announced the appointment of two senior fund managers, Stephen Drew and Simon Ulcickas. With over 18 years' experience in credit markets, Drew joined from Tudor Capital where he worked from 2003-08 on a relative value credit portfolio. He is co-manager on the Hillside Apex and High Income Funds along with Bernt Tallaksen and Mehrdad Noorani. Ulcickas worked for eight years at JP Morgan, most recently as executive director.

No further details on the funds have been released.